I'm new to this forum and after lurking for a while I'm amazed at the wealth of knowledge in this forum. Today I wanted to ask the experts around here. I have around $50k I currently have with HSBC (earning only 0.75% as I found out recently ). So, I want to get the money out as quickly as possible and was looking at some high-interest savings accounts or something similar. I might need access to the money to buy a house next year if everything goes to plan. One member posted the U-bank option at 5.11% which sounds good. Only concern is that this might just be an introductory rate and they will drop it soon. In the SMH Sunday Investor I saw a number of ads from the NSW Public Trustee recently. This being a Government organisation I thought this must be a safe investment. But they are offering 6% for what sounds to me just like a normal savings account. No fees, capital guarantee (not sure whether they mean Government guarantee or what this is)....but at 6% there surely is a catch somewhere I'm not seeing. So, does anyone know what this product actually does and whether it's comparable to a normal high interest savings account? Info can be found here: The Public Trustee is there for you. It talks about a "Power of Attorney" and this is where they loose me. What is this thing? I had my money with the City Pacific Mortgage Trust a few years ago (glad I got out before it was too late). So, I don't want anything like this again, even though 9.75% was a great return (if you actually get it!). As a side, does anyone know the best way to get all my money from HSBC to this new account without paying for a cheque? I think my BPAY limit is only $10k or even less per day. And apparently they can't increase the limit for a once-off transaction.